An LED driver (power supply) is an electrical device that regulates the power to an LED or a string (or strings) of LEDs. It controls the current flowing through the LED. What makes a driver different from conventional power supplies is that an LED driver responds to the ever-changing needs of the LED, or circuit of LEDs, by supplying a constant amount of power to the LED, as its electrical properties change with temperature.
As Chinese overall economic downward trend in the past few years, and the international economic situation is complicated, in the next few years there will be many uncertainties, and coupled with the LED driver industry in short supply on the market in the past few years, more and more companies enter into LED driver industry. But totally, WeHo led driver has a 15-20% increase in 2021.
The global LED Driver market is valued at 2293.6 million USD in 2020 is expected to reach 3464.3 million USD by the end of 2026, growing at a CAGR of 6.0% during 2021-2026.